KEC International in focus; shares gain 8% after June quarter result

KEC International shares surged nearly 8 per cent on the BSE on Tuesday after the company, in its June quarter result announcement, said it was confident of delivering a good performance in the financial year 2020-21 (FY21). For the first quarter of the fiscal year 2020-21 (Q1FY21), the company reported an 8.4 per cent year-on-year (YoY) drop in its revenue at Rs 2,207 crore against Rs 2,412 crore in Q1FY20.

The company said the revenue in the month of April was impacted significantly due to Covid-19 disruption; however, numbers for May and June were better than the corresponding months of last year. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at Rs 195 crore, down 22 per cent against Rs 251 crore in the year-ago period.